Swift intraday liquidity messaging selected for BCBS 248
The Payments Market Practice Group (PMPG) has selected Swift's messaging system for intraday liquidity reporting as required by the Basel Committee on Banking Supervision (BCBS)
The Swift messaging system underpins the rulebook released by the Liquidity Implementation Task Force (LITF) ─ an industry group of 25 clearing banks, custodian banks and global brokers. The rulebook was created to aid compliance with BCBS 248, which calls for banks to implement monitoring tools for intraday liquidity management by January 2017.
"Having a very clear, best practice on the use of intraday reporting messages is an essential tool that will enable banks to collect the necessary data
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